Skip to main content

tv   Your World With Neil Cavuto  FOX News  July 4, 2011 4:00pm-5:00pm EDT

4:00 pm
"your world," is next. >>neil: convicts of raping and killing a 16-year-old girl this illegal immigrant is three someday away from his last breath so why is the race to save him now on? welcome, everyone, i am here for neil cavuto on "your world," the white house wants the execution delayed and is asking the supreme court to step in and hold republican texas governor perry off. why? he was born in mexico and brought here at the age of two and was net told he could seek advice from the mexican consulate on the arrest after a rape and slaying of a dean. governor perry is going ahead with the planned execution. the former ambassador to the u.n. is involved now, but, first, a former prosecutor.
4:01 pm
why is this case getting so much national and now international attention? >>guest: well, i am glad it is getting some attention because people should be outraged and there should be protests at this. this is a political question that should be presented to the united states supreme court that has something to do with clemency if that is how the obama administration feels they should deal with the board of pardon. why on the eve of a throw day trial are they doing what i think is unseemly. this is a death, grow desk murder of a 16-year-old girl left dead and naked, strangled on the side of a dirt road with a metal pole sticking out of her body. should i take this to be some kind of indication by the obama administration they think those kinds of brew dallas murders of young girls are worth the ultimate punishment? is that the message? the real question here is, if
4:02 pm
this guy did not get his rights and was not told as an illegal from mexico that he could have spoken to the mexico counsul before the trial, then the only real question is, did that then lead him to suffer an unfair trail? did it violate his constitutional rights? everybody agrees the answer to that question is "no." so, what are we doing with this case? the obama administration owes us a big answer. >> the rob is not everybody agrees as hard as it is for us to believe. the evidence is in the circumstantial, they were his bite marks on her body. the evidence is strong. but the mexican government and there are a lot of people in the international community that are saying, look, we don't think he got a fair trial and there could be u.s. citizens at risk abroad if you don't follow the policy of the treaty. >>guest: see, this is why it
4:03 pm
is a political issue and not a legal issue and that is why i am outraged. he would not play politics with the death of another kind of person, it had to be a girl and is sex crime. look, here is the issue. we do have a treaty with mexico. but if there was a country where we shouldn't be overly concerned about respecting the treaty rules, it is mexico. they have, in the few years ago, a report was done by the justice department saying mexico is out of line, disrespectful of treaty responsibilities with the united states when it comes to our citizens having legal issues and dilemmas in mexico. what are we doing? why with this country? this guy's rights were more than well protected. there is no country that better provides you with due process than the united states of america. the fact that he didn't get the counsu rights read to him had nothing to do with the case. this is all politics. and i think the public should be
4:04 pm
up in arms. >> it is not just the white house but the united states is urging the governor to commute the sentence to life in prison and former ambassador to the u.n. is here. why is the u.n. getting involved here? >>guest: well, because they see a weak obama administration and they are trying to press their advantage. this treaty, the vienna convention on consular access is a multilateral treaty this creates mutual responsibility in government to grant access to their national when another government requests it. it has nothing to do with empowering individuals to ask for counselor access. it is a government to government treaty that has always been the way it has been interpreted until the recent cases where they are trying to create a right in individuals that simply does not exist under the treaty. >> perception is important. you have the white house, and certain judges, and you have,
4:05 pm
even u.s. military heards abroad saying, look, the perception is this individual did not get a fair trial and the perception is the u.s. is in the following the treaty so it is going to affect and impact negatively the safety of u.s. citizens abroad. do you believe that? >>guest: no, and if they have a perception problem they need to fix it. if the impression is if he got access to a mexican counselor official, he would have gotten a fair trial, that is ridiculous, he had access to american counsel in his case. american lawyers to help his defense. the idea that somehow he was deprives of his rights and given the death penalty, that is simply wrong and not what americans overseas have to worry about. >> is it the members overseas, or, really, more of our relationship with mexico; that what this is all about?
4:06 pm
>>guest: the people who are arguing that americans overseas will be disadvantage by this just don't understand the treaty. if it is a problem with mexico lock how americans are treated down there. the country's judicial system is corruption, being threatened by the drug cartels. there is lawlessness and violence in mexico, committed by mexicans against each other to the point where it is unsafe ferry them to travel let alone americans. >> perry does not plan to take the cues from the u.n. >> the governor would have to have a favorable request from the board of pardons and paroles to consider the clemency requested." >> is it the united states place to get involved? when i have you on i am talking about the u.n., overstepping their bounds but getting involved in something that is questionable. >> the u.n. folks who do this think they are smarter than the
4:07 pm
americans and they think they have a higher morality and they think they have a right to intrude and the response has to come from the american people. if you want the nannies to second-guess up, then keep electing administrations like the one we have in office now. >> thank you, ambassador. execution on, perry in, this drama coming when many expect governor perry to jump into the presidential race and the "american spectator," says the time cog not be better. will he hold firm against the mounting international pressure? >> you bet. texas has a long tradition of using the we death penalty for heinous crimes and here it is not even close. the u.n. is weighing in. the obama administration weighing in. do you think this would play well in republican primaries? i think so. >> both wendy murphy and ambassador bolton talked about politicizing this issue. you have to think that governor perry is looking at this not
4:08 pm
only in terms of doing the right thing or the wrong they but also from a political stand point, he could make himself look very good depending on the decision. >> 25 or 30 percent of the american people oppose the we death penalty and that is driving the opposition, not whether he had a fair trial. the bite marks everyone on the victim. so this is an ideological battle between those who favor the death penalty and those opposed n a republican primary it is four or five to one fore the death penalty and in the general election, two or three to one. he is not in political danger. >> is it works in texas. and the most recent poll in terms of which nominee you would favor, perry is coming in second, and already he is toward the top of the list. does this give him another bump or allow him to stay where his base would be? >> this is minor but it plays to
4:09 pm
his base. but what is astonishing is he is in second place without announcing, and 9 compelling issue is the job growth. half of the jobs in the united states created since 2009 when obama came to office have been in next which is astonishing and he will say we need to take the texas expense national. last april i was in texas with california state legislatures and they were holding a hearing on why all the california businesses are moving to texas. it was astonishing to say, we have lower taxes and lower regulations will get more jobs? >> so a small issue for governor perry, the economy and what he has done. >>guest: but come binded he is tough on crime and immigration. >> what about someone in, the administration itself or someone in the administration, or even, a democrat out there that says i will take up this cause along with the obama administration, along with the u.n., and i will
4:10 pm
say this guy didn't get a fair trial although the evidence is overwhelming that he was guilty. >>guest: you night get a kucinich to make that argument but not the obama administration. this is such a heinous crime. discussing the details makes people squirm. the administration will say if they face him in the election, do you want another governor from next? look at the last texas administration we had. >> what about looking at the treaty to give judges the ability to look at each case, case by case, to see if a fair trial was granted people will say, we have bigger fish to fry than to have this legislation passing to the senate. >>guest: judges are not supposed to micromanage treaties or cases. if the mexican government is asked to see him and say we need to protect his rights but he
4:11 pm
does not have an individual right to the have someone coming from the mexican consulate and that is why this is ridiculous. >> a mini debt deal? more on that ahead. stay tuned. [ male announcer ] do you know how you will react
4:12 pm
when someone changes lanes without warning? or when you're distracted? when you're falling aeep at the wheel? do you know how you'll react? lexus can now precisely test the most unpredictable variable in a car -- the driver. when you pursue perfection, you don't just engineer the world's most advanced driving simulator. you engineer amazing. ♪ an accident doesn't have to slow you down. with better car replacement ailable only with liberty mutual auto insurance,
4:13 pm
if your car's totaled, we give you the money for a car one model year newer. to learn more, visit us today. responsibility. what's your policy?
4:14 pm
>> what a debt deal, deliver a debt plan. senate republicans telling the president it is time to show his cards for a new round of debt talks. mike, some republicans this past weekend have threated the -- floated the idea of a deal. >>reporter: senator cornyn on fox news sunday yesterday made the case for if we can't get all of the cuts we want, perhaps we do a short-term deal. here is senator cornyn making the case. >> the problem of a mini deal we have a big problem and they will not go away if you cut a mini deal it just delays the moment of truth so i think better now than then but if we can't we will take the savings we can get now and relitigation as we get closer to the election. >> the white house cool on that
4:15 pm
idea saying the president has said it is the long term economic interest to have a long term deal but as the clock winds down toward the deadline democrats say they need a deal done by july 22nd so you get a sense of urgency there and it will be interesting to see if the white house changes its tune on the idea of a mini deal to get away from the problem of the august 2nd deadline. >> the white house has toughened their language. what are they saying about the august 2nd deadline. >> we heard from the president on wednesday at a news conference and may have lectured or scolded members to get their work done and the vice president has been out a couple of times speaking to friendly audiences. yesterday he was in chicago talking to the national education association and, again, did class warfare saying
4:16 pm
the republicans are out only to help the rich. here is the vice president. >> it should be in surprise they have had no problem giving aid to investment bankers on wall street who drove us into this dilemma. folks we have to wake up! >> tomorrow after the 4th of july holiday the senate is back to work and there are no known meetings on the schedule but tonight we play get word of a meeting tomorrow or he will be involved through the course of the week. >> thank you for work on the holiday. enjoy the 4th. my next guest does not like the talk of this mini deal. he says they are kicking the can down the road officer -- down the road for america. isn't a mini deal better than in deal if we face default august
4:17 pm
2nd? >>guest: absolutely not, and according to the bipartisan research council we will have enough money on august 2nd to pay social security, medicare, medicaid, veterans benefits, active service and still have $7 billion left over. so, it is ridiculous of obama putting that deadline into place. this is political suicide for the republican party. they were sent to congress in 2010 with a specific mandate. chris, that was to cut spending and get the deficit under control. if they change directions they will be slaughtered in 2012. craig: but if we have been going in the wrong direction for 3 years and building the $14 trillion deficit, can't we take one step in the right direction and appease both sides to say at least we're taking 30 steps in the wrong direction and in the one in the right direction and
4:18 pm
maybe we take two or three more and at least we are headed in the right way? >> that sundays good, but the problem is as senator cornyn said, we have a problem and we need to make maximum steps in the process. look, if we were down graded by moody's and i don't have a lot of credibility in the first place, they said the debts were fine during contribution but i don't think moody's will downgrade us if we say to the world we are cutting spending. we are getting rid of our debt. look, think of this, chris. say the republicans cut a deal and they get $3 trillion worth of cuts in 10 years, that is $300 billion a year with $1.5 trillion deficit we are still going to amass $1.2 million or $12 trillion in 10 years. it has to stop.
4:19 pm
if not now, when? we saw this happen with continuing resolutions. and the republicans promised $100 billion in cuts and we got $7 billion or $8 billion. this is the time to draw the line in the sand. >> but you her the president last week and we heard from vice president biden, it doesn't sound like they will come to an agreement. august 2nd is less than a month away, we both know both sides seem to be dug in, they are entrenched and they will in in t budge. >>guest: being the chairman of my company, i would call my c.e.o. into my office and say you get your people, you lock yourself in a room and don't you come out until we have a decision made. instead, the president decides to go campaigning, he decided to go to catch david, and i know he needs his rest. >> he probably sent the vice president in and said don't come out until you have a deal and
4:20 pm
they could in the get one done. >>guest: listen to what the vice president said. >> we this did to help all the fat cat bankers and let was all for tarp, he was the one that was bailing these people out. the demagoguery and fearmongerring coming out of this administration has to stop. the time is come. in 2010 the american people say stop spending money, cut down the deficit. the time now is here. >> the fearmongerring will probably continue on both sides here. thank you, greg. the only state where the living is cheap, the wages are high, and there are more than 15,000 jobs to fill. why is the government paying you why is the government paying you not to go there?ved it.
4:21 pm
took some wild risks when i was young. but i was still taking a risk with my cholesterol. anyone with high cholesterol may be at increased risk of heart attack. diet and exercise weren't enough for me. i stopped kidding myself. i've been eating healthier, exercising more, and now i'm also taking lipitor. if you've been kidding yourself about high cholesterol, stop. along with diet, lipitor has been shown to lower bad cholesterol to 60 percent. lipitor is fda approved to reduce the risk of heart attack and stroke in patits who have heart diase or risk factors for heart disease. [ female annncer ] lipitor is not for evyone, including people with liver problems and women who are nursing, pregnant or may become pregnant. you need simple blood tests to check for liver problems. tell your doctor if y are taking other medications or if you have any muscle pain or weakness. this may be a sign of a rare but serious side effect. lets go... haha.
4:22 pm
if you have high cholesterol, you may be at increased risk of heart attack and stroke. don't kid yourself. talk to your doctor about your risk a about lipitor. [ female announce] something unexpected to the world of multigrain... taste. ♪ delicious pringles multigrain. with a variety of flavors, multigrain pops with pringles.
4:23 pm
4:24 pm
>> looking for work? look no further than north dakota with 15,000 jobs to fill and entry level jobs at done done bring home $12 to $15 but the government is paying people not to flock to that state. what do you mean by that? >>guest: there is a lot of research and even left wing academics including former obama appointee larry summers acknowledge when you have unemployment benefits that are
4:25 pm
lengthy, what you do is you lure people into a sense of complacency and depend answer and they tend not to be as aggressive as they should be and the research is looking country-wide at the over all numbers. maybe somebody really hates cold weather and would not go to north dakota anyway but the evidence is clear that we are making our labor markets more like europe with long term structural unemployment as a result of this government intervention that in effect subsidized people to not have jobs. >> the numbers would indicate that. we have a new jobs report on friday and if you look at last month's numbers the long term unemployed increased by 300,000 and now 45 percent of those unemployed are long term unemployed sow have people and we talk about the 99ers those unemployed for 99 weeks. that seems preposterous.
4:26 pm
>> and the policies of extended unemployment benefits often are put in place for genuine reasons of compassion. but what the politicians don't understand when lure somebody into dropping out of the labor market for almost two years in the case of the 99ers it makes it so were more difficult for them to get mainstream, back into full time employment. and this is a case of the government, you killing people with kindness. >> and north dakota would not be a solution, we last eight million jobs in the recession and 14 million people unemployed and north dakota has 15,000 job openings so if everybody moved to north dakota even if they could deal with minus 20 degrees in janet would not solve our problem. is our problem that we don't have the right workers trained for the johns we do have available? short of a shift in the employment picture here?
4:27 pm
>>guest: that is getting into the big issues about the fact our education system spends more than just about any country but delivers terrible results. that is an issue that bad government education monopoly can only be cured by school choice. and you have to look that we have the highest corporate tax rate in the world with the possible exception of japan. is that making it difficult for companies to create jobs if we had good workers? the real issue we need to focus on, is government getting too big? are we repeating the mistake of europe? you have a european-style welfare statement and that means european-style unemployment, and this is not just under obama but a lot of this began with bush through tarp, and it does not matter if you are republican or democrat but? you make america like europe we will have bad economic
4:28 pm
performance. >> what is the solution? if i took 8 million people and said in more unemployment insurance, whatever the number is, what do we do with those people? they don't have jobs? would that first them to work at mcdonald's, to work at the deli down the street? >> if you look at all the academic evidence including the evidence cited by left wing economists there is a huge uptake in terms of jobs when people run out of unemployment so, yes, people may in the get the job they went, or holding out for something really good and they run out of unemployment benefits they take something mediocre and climb from that job. the ultimate answer is to peel back the government policies, undo the big spending, figure how to make our tax system not so punitive and deal with the red tape and intervention that is affecting everyone from our
4:29 pm
financial markets to health care sector. you look at europe, they did not get where they are in terms of economic stagnation with one bad policy, it was a bunch of things, we're moving down that path and we have to stop. it is that simple. >> what bill clinton does has some republican armchair jobs sweating. what this g.o.p. strategist is beaming. done ! verizon's done ! i've got seven left ! the fastest network in america. verizon. built so you can rule the air. now powering the lg revolution.
4:30 pm
i know you're worried about making your savis last and having enough income when you retire. that's why i'm here -- to help come up with a plan and get you on the right path. i have more than a thousand fidelity experts working with me so that i can work one-on-one with you. it's your green line. but i'll be there every step of the way. call or come in and talk with us today.
4:31 pm
4:32 pm
>> and republican presidential candidates fanning out across key states to rally voter support. and a few of them are getting help from an unlikely source. bill clinton. the former president says he is a fan of former utah governor huntsman and romney. you might expect that to be the kiss of death but republican strategist says think again. you think this mild endorsement could work in favor of rome my
4:33 pm
and huntsman? >> absolutely. i'm from arkansas, i have dealt with bill clinton for many years and he accident do anything he hasn't thought about. this was slick. think of it. this election is not about republicans and democrats, this election is about the moderate and the independents. some of the voters voted for obama for the first time, we want to recapture the voters for the republican party. guess what? he gave a huge shout out to huntsman and romney, especially good for huntsman because he is suffering from a lot of low name identification and this elevates him and it, think of this, huntsman was a clinton appointee, as an ambassador. >> i kind of like him, and he looks authentic, he looks like a real guy. and i mean a real human being.
4:34 pm
i like hi family. he was a pretty good governor. >> this is great. this gives huntsman a platform to say here is what i stand for, doing a rebuttal saying here is what i stand for. he has set up the platform so he gave him a shout out which is great because he needs that to elevate himself and he is a just candidate and he is someone that can threaten obama because, after all, obama administration reaped across party loins and picked a republican to serve as the ambassador to china. that's a big deal. >> i was reading an article that said huntsman, the potential g.o.p. can state that the democrats fear the most. that is confusing. you see democrats will fee -- fear him and then bill clinton likes him, he says.
4:35 pm
>>reporter: everybody every democrat looks to have the endorsement of bill clinton. he is like teflon. is he slid in a little soft endorse president to huntsman and don't think he didn't know what she doing. >> and he said i like the governors, huntsman and romney, romney is a better candidate than last time because he is not apologiesing for signing the massachusetts health care bill. but that bill will still be the the albatross around his neck. >>guest: what better thing to do than to say i like romney and bachmann, and, squeeze huntsman in the middle by saying he's authentic, he's just, i like him, and i'm not sure what he stands for so he did not say anything bad. >> what he said about bachmann, i don't agree with anything she says but she has a lot of juice
4:36 pm
and appeals to the antigovernment crowd. that is factual. by and large. but what are those who, you know, you can say bachmann's base, the far right base, what do they think as they see this and they see bill clinton angling in on the candidates? >> far, far right doesn't care. bill clinton is saying would he may or may not like, this is only going do appeal to a moderate or independent voter. a far right will not pay attention to what bill clinton says or will it sway anything. so it is a moot point. >> would it hurt if someone on the far right said there are a couple of moderate issues i agree with huntsman or romney by my archenemy bill clinton likes them so there is in way i am touching them. >>guest: no, no, they will be interested to see what huntsman stands for, so, i think, overall it was good and bill clinton is not going to turn anyone off that likes bachmann. at all.
4:37 pm
or will he turn anyone off for romney and that has donated. so i don't think he has done any damage but if anything bill clinton has done something very slick, by giving the soft endorsement to, i think, huntsman. >> and he said yesterday, former president clinton that he thought obama would win again in 2012. >> he had to throw that out there. >> it looked like strauss-kahn was getting off the hook, this woman brings it on. woman: saving for our child's college fund was getting expensive.
4:38 pm
man: yes it was. so to save some money, we taught our 5 year old how to dunk.
4:39 pm
woman: scholarship! woman: honey go get him. anncr: there's an easier way to save. get online. go to get a quote. 15 minutes could save you 15% or more on car insurance. a network of possibilities. in here, the planned combination of at&t and t-mobile would deliver our next generation mobile broadband experience to 55 million more amecans,
4:40 pm
many in small towns and rural communities, giving them a new choice. we'll deliver better service, with thousands of new cell sites... f greater access to all the things you want, whenever you want them. it's the at&t network... and what's possible in here is almost impossible to say. he needs some gellin'. massaging gel insoles. outrageous comfort, all-day long. >> and this is strauss-kahn attorney trying to have assault charges dropped and another
4:41 pm
woman is accusing him of sexual assaults. a french writer planning to file a criminal complaint against strauss-kahn tomorrow in paris claiming he attempted to rape her back in 2002. and the lawyers say this is "imaginary," and is planning a sugar land december case against her. the attorney joins me now. is this a smart move? >> absolutely. it is a great move because he will put her on her heels and this assault took place in 2002 and she talked about it in 200720 and now wants to file charges and go after him for money now that we have this am step indication with the made so they is trying to capitalize and we see this with tiger woods, some true, some not. some looking for money and fame, so, it's a great move to be so aaggressive with the attorneys and saying we are going after
4:42 pm
you. >> from a p.r. perspective everything that has happened favors him clearly with the accuser here in new york, her background being questioned, and, now, you have this situation where somebody who claims something happened almost 10 years ago is finally actually coming out but from a legal perspective has anything changed in his regard the last week? >>guest: well, exactly what you just said. things have been going his way and this doesn't change that. they are going to look at, the judge and the prosecution, if they bring this woman in, is it more prejudicial or probative? it is 10 years ago and they will not be able to bring her in as a credible witness to show he has a brother expensety -- propensity for violence. and as forked -- for the maid, her stories have not matched up.
4:43 pm
if she did not stick to the story she told about immediately after the assault, that is huge, because you should know if you went through something that traumatic, what did you do next and how were you able to go on with your work day and not be so distraught from what you said was very violent? >> what is the prosecution, then, doing in the states with this case? they have not dropped it. what will they do? nothing will change between now and the time to bring this to trial. the witness is who the witness is. >>guest: what is, i think they hope, one of two things will happen: they will go away quietly, something bigger and better will congress along and they will not have egg on their fates, and they are putting out statements they are still investigating but you are right the key witness is the key witness and she is the only witness and she is tarnished. they will have a hard time prosecuting based on what she says so i think they either want it to go away or they hope that
4:44 pm
something else, someone else will come forward to bolster them so they have another credible witness. this is a huge guy, a huge story, and for them, now, because they went aggressively after him, as you know, huge bail, can't leave the state, give us your travel documents, splashed all over, potentially ruining his chance to go and run for president, if trance, so the issue then becomes how do they back out gracefully. >> and only potentially ruining his chance. as you can see, 49 percent of the people are split down the middle about half in trance believe he could still run as a socialist and defeat sarkozy so he is not out of the picture there. i imagine he will want to put all this behind him very quickly whether the case in new york or the new complaint that is supposedly going to be filed in paris. >> i agree and that is why i think the slander suit was smart, he is being aaggressive and she will withdraw the case
4:45 pm
or not move failure, and, second, his next court date is july 18th and that is past the formal deadline for him to declare presidency or candidacy, excuse me. i understand all of the other people that are in his party said if he wants to run we are not going to let the deadline be the bar, we would not have a problem with him coming to late so it would not surprise me if he goes back and runs for president. >> thank you for joining us on the 4th. enjoy the holiday. >> looking for real fireworks this 4th? look no further than southern california. fed up counties now pushing to secede from the state.
4:46 pm
4:47 pm
4:48 pm
4:49 pm
. >> as you celebrate independence day 13 counties in a state are looking to celebrate their own. a chunk of southern california looking to secede from the state and to crete the 51st state in america. why? joining me is the man behind the plan, riverside county supervisor. how much popular support have you garnered in your 13 counties toward the movement? >> chris, we have just started the ross and i predict we will see a new nfl football team in southern california before we see a new flag flying over a new state capital but putting the rhetoric aside there are important points to make. the california government has been dysfunctional for a deck aid. it is bloated. we have the highest taxes on citizens and business of any state in the union and are 49th in educational scores. we have 30 million illegal immigrants in the country and
4:50 pm
the lion's share live in california. and 30 percent of the nation's welfare exist in california with just 12 percent of the population and left wing environmentalist regulation that make it easy for governor perry to attract businesses to the lone star state. >> my question, my point would be, these are policies that are put in by elected officials, so, they garnered the support in the state of california are you saying in your 13 counties those people with not have been elected? >>guest: well, we have a june preponderance of power in sacramento where they do in the represent the interests of citizens, unfortunately, but represents the interests of special interests especially the unions. and we just had a budget passed, i'll call it a quasibudget, that balances the budget on the back of local government and higher taxation on our citizens and
4:51 pm
local government officials through the state, all 460 plus cities and 58 counties, are very upset the state does not live in its means. so we have an agenda dumb on our board of supervisors to explore the possibility of a second state. do we really want to do this? no, i am native from california and here for three generations. we have seen tech leaving, toyota is leaving, and thousands of jobs are leashing the state and we are just creating a welfare state. governor brown is driving a bus with 38 million residents and we are close to the cliff. you need to turn the bus around or we will get a new bus and start from scratch and end the government unions that caused the state an unfunded liability of hundreds billion. >> the reality is, you can not do it.
4:52 pm
this is more to draw attention to your plight because you have to get, because the constitution says you have to get the state legislature to agree and they will never agree. >>guest: you are right. years ago when everyone said we cannot recall a governor of the state of california. and we did. since i put out this agenda i have had thousands of e-mails coming to me not only from people in southern california but people in northern california that say, jeff, where can we sign up? it is time that somebody stood up. no one has offered solutions how we will certificates our dysfunctional state. they say our economy is a cycle. but if california it is not a cycle but a permanent adjustment. the jobs left the state. they are not coming back unless we get a change of leadership or a change of government by forming a new state and having a part time legislature. we have the highest paid legislators in the world and the highest paid prison guards in the world, $71,000?
4:53 pm
california compared to $31,000 in texas and we wonder why texas is doing so well. >> you have a lot of issues and a lot of people outside of the state of california would keep a close eye on that situation there. thank you so much, jeff, we appreciate that story. i remember this going into the weekend, u.s. stocks jumping. not that fast, but up. jumping on hopes that the doubt problems of greece were going away. that was then. why tomorrow it could be a whole new market. the big fat greek nightmare ahead. [ pneumatic wrench buzzing ] [ slap! slap! slap! ] [ male announcer ] your favorite foods fhting you? fight back fast with tums.
4:54 pm
ccium rich tums goes to work in seconds. nothing works faster. ♪ tum tum tum tum tums ♪ [ male announcer ] what is the future of fuel? the debate is over. ♪ lexus hybrid drive technogy is designed to optimize any fuel source on the planet. even those we don't use yet. because when you pursue perfection, you don't just engineer a future-proof hybrid system. you engineer amazing. . .
4:55 pm
4:56 pm
♪ all right. when the markets were soaring on hope, greece's financial crisis was fading. warning that the greek debt may not fix default. that has us worrying. john, last week, best year for
4:57 pm
the market in two years but what about this weekend this particularly starting op tuesday morning after a long weekend? >> from my perspective and how we look at the market macros, it doesn't look good. it looks like everyone was holding out hope that something great would happen, but if you look deeper, a bunch of countries need to be bailed out themselves getting together to form a collective bail-out a country that has been bailed out once. >> even with that said, is this new news to everybody around the world? most people thought, okay, it's bad. as bad as it can get in greece. they probably need to be bailed out anyway in some form or fashion. if they go in default how much does it affect me? >> they have countries they owe money to, saying okay, fine. you don't have to pay us the money you owe us, a default default when they should be collecting their interest at this point. but it doesn't look good that the main countries that need
4:58 pm
the bail-out, greece, they need to be bailed out if you look at it. how many times can the imf come to their rescue without it affecting the globe? >> a classic case, where a lot of investors say we don't want to be long. because of the political risk out there. sure enough, this is a classic case of why you don't want to be long over a three-day weekend. you can't do anything. the markets are closed and you are watching the negativity going on in greece. >> it seems like they save up the bad stuff for the weekends and especially trying to ruin our independence day celebration, chris. this bad news, plus coupled with the end of the week, you have some unemployment numbers coming out, the last ones were slightly better than expected. but it doesn't look good for this quarter either. you see a lot of companies are coming out with the numbers that are better on earnings but it's not because their people are more productive but they have less people working for them. that seems to be a trend that is continuing. >> there is a little talk this week about the fact that supply chains are being put
4:59 pm
back in motion after what happened in japan earlier in the year. finally, the automotive industry getting cooking again. supply chains are being reopened. that will help the job number here. >> the automotive industry, it seems like it is morning in america for them compared to a year ago, but they are not knocking the cover off the ball. to put the new supply chains in, because of short-term development, we don't know how quickly japan will get back online. so it could be expenditure in the next quarter that could be another unwise investment. i feel like that the bureau of labor and statistics gives us a lot of number in spring and summer months that they hypothesize, kind of. if you look at the real unemployment at 22%. >> it ain't pretty. i hear you. >> it doesn't look good. >> i know you're bearish. >> i like to be joyous for the fourth of july but we have to tell it like it is.


disc Borrow a DVD of this show
info Stream Only

Uploaded by TV Archive on